Zacks: BGC Partners Inc. (BGCP) Receives Consensus Recommendation of “Strong Buy” from Analysts
BGC Partners Inc. (NASDAQ:BGCP) has earned a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that cover the company, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy rating.
Brokers have set a 12-month consensus price target of $14.00 for the company and are predicting that the company will post $0.21 earnings per share for the current quarter, according to Zacks. Zacks has also given BGC Partners an industry rank of 98 out of 265 based on the ratings given to its competitors.
Separately, Zacks Investment Research lowered BGC Partners from a “hold” rating to a “sell” rating in a report on Tuesday, October 4th.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/17/zacks-bgc-partners-inc-bgcp-receives-consensus-recommendation-of-strong-buy-from-analysts.html
BGC Partners (NASDAQ:BGCP) traded down 0.7872% during mid-day trading on Monday, hitting $8.8101. The company had a trading volume of 413,496 shares. BGC Partners has a 52 week low of $8.18 and a 52 week high of $9.90. The company has a market capitalization of $2.44 billion, a price-to-earnings ratio of 18.2404 and a beta of 1.33. The firm’s 50 day moving average is $8.88 and its 200 day moving average is $8.94.
BGC Partners (NASDAQ:BGCP) last posted its earnings results on Thursday, July 28th. The company reported $0.19 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.19. The business earned $652 million during the quarter, compared to analyst estimates of $665.70 million. BGC Partners had a return on equity of 24.31% and a net margin of 5.01%. The company’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.18 EPS. On average, equities research analysts predict that BGC Partners will post $0.84 EPS for the current year.
Institutional investors have recently added to or reduced their stakes in the company. Raymond James Trust N.A. increased its position in BGC Partners by 88.2% in the third quarter. Raymond James Trust N.A. now owns 46,237 shares of the company’s stock worth $405,000 after buying an additional 21,672 shares during the period. Schwab Charles Investment Management Inc. increased its position in BGC Partners by 5.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 819,924 shares of the company’s stock worth $7,142,000 after buying an additional 39,690 shares during the period. Amalgamated Bank increased its position in BGC Partners by 19.2% in the second quarter. Amalgamated Bank now owns 23,004 shares of the company’s stock worth $209,000 after buying an additional 3,712 shares during the period. Legal & General Group Plc increased its position in BGC Partners by 11.5% in the second quarter. Legal & General Group Plc now owns 45,198 shares of the company’s stock worth $388,000 after buying an additional 4,652 shares during the period. Finally, Metropolitan Life Insurance Co. NY increased its position in BGC Partners by 24.5% in the second quarter. Metropolitan Life Insurance Co. NY now owns 157,640 shares of the company’s stock worth $1,373,000 after buying an additional 31,046 shares during the period. Hedge funds and other institutional investors own 38.81% of the company’s stock.
BGC Partners Company Profile
BGC Partners, Inc (BGC) is a global brokerage company servicing the financial and real estate markets. The Company operates through two segments: Financial Services and Real Estate Services. The Company provides a range of services, including trade execution, broker-dealer services, clearing, processing, information, and other back-office services to a range of financial and non-financial institutions.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for BGC Partners Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BGC Partners Inc. and related companies with MarketBeat.com's FREE daily email newsletter.